Top Annuity Options for Retirees

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Hi, Stan the annuity man. Today's topic

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is what's the best annuity type for

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retirement. Good question and we're

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going to go through each type of annuity

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out there that's available to you and

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give you kind of an overview of what

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they do, benefits, limitations, so you

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can understand based on your specific

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situation which one fits. Also, make

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sure to watch the other video up there,

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who has the best fixed annuity rates.

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That's a good one, too.

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So, what are we going to cover today? A

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lot. I'm going to go over what's an

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annuity, what are all the types, the

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brief history of annuities. I'm going to

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tell you the two questions that you need

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to ask to find out the right annuity

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type for you. I'm going to tell you an

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acronym I came up with that is foolproof

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to find out that whether you either need

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an annuity or not and if so what type.

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And then we're going to go through every

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single annuity type for retirement and

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what it solves for contractually so

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you'll understand which one might fit or

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might not fit. Heck, at the end of the

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day you might get to the end of the

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video and say all of these I totally

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understand and they don't fit my

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situation. Then I've done my job. I've

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educated you. Speaking of education, if

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you hang in there with me, at the end of

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this video, I'm going to tell you how

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I'm going to send you for free, no

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obligation, no cost, no no little

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asterisk, all seven of my published

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books. So, let's get started. So, what

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is an annuity? I'll tell you what, it's

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not it's not a hated annuity category.

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Somehow, the word annuity is the cuss

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word in the financial services industry.

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Now, I blame the annuity industry

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because I think that um they've done a

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poor job framing the product because

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annuities were put on the planet for

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lifetime income. Annuities are the only

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product category that solves for

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lifetime income, meaning that you can

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never outlive it. Now, if you're the

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annuity industry, wouldn't that be the

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what you talk about? Wouldn't you have

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t-shirts that say got guarantees in

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front of it like got milk? Because at

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the end of the day, it's a transfer risk

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guarantee that solves for lifetime

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income. So where did they start? What's

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the genesis of the annuity? The word

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annual a nua means payment in Latin. And

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in the Roman times, the beautiful Roman

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soldiers that were laying it on the line

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for the emperor, what the emperor said,

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you know what? I'm going to create a

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lifetime income stream for those

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beautiful Roman soldiers and their

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families. What's that called? It's

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called a single premium immediate

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annuity. What's that called? That's

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called a pension. What's that called?

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That's called social security. So, can

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you hate all annuities? No. Do you hate

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social security? Do you hate pension? Do

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you hate lifetime income stream? Of

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course you don't. But that's what an

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annuity is. That's the history of

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annuities. And they've been sold in this

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country for hundreds of years. Now, do

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they get a bad rap because of, you know,

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how they're how they're pitched? Yes,

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absolutely. But at the end of the day,

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the benefit proposition is this lifetime

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income. Nobody does that. There's other

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things that annuities do, which is

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principal protection and long-term care,

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but what separates it from everything

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else is the lifetime income guarantee.

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So, what are the primary types that

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we're getting ready to cover? Let's go

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through them quickly and I'll kind of

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tell you what they solve for and then

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we'll dig a little bit deeper. Single

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premium immediate annuities solve for

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income now. Deferred income annuities

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solve for income later. Qualified

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longevity annuity contracts solve for

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income later. Income writers that are

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attached to either variable annuities or

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fixed index annuities solve for income

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later. Variable annuities solve for

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market growth. Fixed index annuities

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solve for principal protection and

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multi-year guarantee annuities solve for

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principal protection. So in essence,

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that's the world of annuities that you

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have to choose from. So the question is

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which one fits? Let's dig further. So I

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made this really, really simple and it's

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effective and it works. There's two

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questions you need to ask to even find

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out if you need an annuity and if you

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do, what type? Because there's not one

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sizefits-all. If someone's showing you

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one type of annuity at the bad chicken

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dinner seminar, and by the way, if it's

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like at a really nice steakhouse, you

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can kind of correlate how how much the

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commissions are. But here are the two

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questions. Number one, what do you want

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the money to contractually do? In my

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world, you buy an annuity for what it

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will do, not what it might do. Will do

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is the contractual guarantees. The might

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do is the hypothetical theoretical back

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tested projected hopeful non-g

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guaranteed agent return scenarios.

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Unicorns chasing the butterflies. You

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never buy for that. You buy for the will

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do the contractual guarantees. Second

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question, when do I want those

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contractual guarantees to start? So,

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let's do it again because I got diverted

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a little bit. Number one, what do I want

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the money to contractually do and when

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do I want those contractual guarantees

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to start? Okay, so I've come up with

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this really unique acronym called PIL to

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even determine if you need an annuity at

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all. You might not. That's okay. Here's

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what the pill stands for. P principal

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protection, I income for life, L legacy,

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the other L, long-term care. If you do

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not need to solve for one or more of

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those, you do not need an annuity. It's

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that simple. But you say, "Well, Stan,

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this guy told me I can get growth and I

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get Okay, I understand that. You're

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smarter than that, right? Remember what

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they say in Vegas. If you don't know who

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the rube at the table is, it's you.

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Don't be that person. If it sounds too

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good to be true, it is every single time

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with annuities. No exceptions. These are

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contracts. So, let's go through the pill

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again. Principal protection. Those are

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index fixed index annuities and

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multi-year guarantee annuities.

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Principal protection. Income for life.

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Single premium immediate annuities.

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qualified longevity annuity contracts,

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deferred income annuities, and also

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income writers attached to policies.

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Legacy. Legacy is leaving money to your

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heirs. If you can't get life insurance,

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life insurance is the best death benefit

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on the planet. It's the best return on

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investment you'll never see because

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you're dead. I encourage you to get it.

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If you don't, I don't sell it, but I

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encourage you to get it if you if you

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can qualify. But if you can qualify, you

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can get a guaranteed issue income writer

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that also serves as a death benefit. And

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then the other L is is long-term care.

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There are annuities that address

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long-term care and there are what's

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called confinement care writers, which

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means in my world, if you get sicker,

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you get your money back quicker. But in

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essence, they enhance the payout the

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more your health declines. So that's it.

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PL, principal, protection, income for

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life, legacy, and long-term care. To my

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variable annuity brethren out there

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that's pounding the table and throwing

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things at the screen, hang in there. I

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understand that you're going to say

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market growth and and there's an

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argument for that. There's an argument

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for variable annuities for market

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growth. They were put on the planet in

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1955 for tax deferred growth and there's

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some very good no-load ones out there.

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There's some very good load variable

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annuities out there as well. But stand

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the annuity man. My opinion number one

6:48
agent in the country. Here's my take on

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it. Even with those, there's limitations

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on your choices. In my opinion, in my

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world of contractual guarantees, if

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you're looking for market growth, there

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should be no limitations on the growth.

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That's just the way I see it and I think

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I'm right about it. So, if you want

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market growth, I don't think you should

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be buying an annuity at all. There's no

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G in pill, right? It's only P I L. No G.

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Okay. So, we've dug down a little bit on

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how to determine if you even need an

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annuity. The two questions, what I want

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the money to contractually do, when I

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want those contractual guarantees to

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start, the pill acronym, principal

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protection, income for life, legacy, and

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long-term care. Those two things right

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there will filter out whether you need

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an annuity, and if you do, what type.

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But let's go through quickly the you

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know we talked about the best types of

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annuities for retirement. So let's talk

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about that. Single premium immediate

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annuities are the best annuity for

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retirement if you need income right now

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within 30 days to a year. Single premium

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immediate annuities. The best annuity

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for retirement for principal protection.

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There are two. That's multi-year

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guarantee annuities and fixed indexed

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annuities. Both protect your principal.

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No market downside. The best annuity for

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u long-term care is an income writer

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that solves for confinement care and is

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guaranteed issue. There's also long-term

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care annuities that require a little bit

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more u underwriting that you can also

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look at as well. And then legacy, there

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are some income writers that solve for

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the legacy. Now going through the in the

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pill side, you know, principal

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protection is mas multi-year guarantee

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annuities and fixed index annuities.

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income for life. That's the primary uh

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reason people buy annuities. Single

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premium immediate annuities, deferred

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income annuities, and QLEX, qualified

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longevity annuity contracts are for

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income later. And also the income later

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side is the income writers. That's for

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income later. And then the L for legacy

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and L for long-term care. You know,

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there's some specific annuity types that

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address that. Those are the best annuity

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types for retirement. The question truly

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is with your specific retirement and

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customizing the quote, what do you need

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to solve for? And with that, my promise

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is going to be kept. I've published

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seven books, written seven books. I'm a

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busy little man out here, okay? I'm

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writing, but I'm going to send you these

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for free. Why? Because you need the

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education. Why? Because you need to be

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informed before you make a decision. I'm

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package. So, that's what you're going to

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